10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

(Mark One)

[X]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2015

or

[  ]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ______________ to ______________

Commission File Number: 001-09370

RECEIVABLE ACQUISITION & MANAGEMENT CORPORATION

(Exact Name of Registrant as Specified in the Charter)

Delaware	13-3186327
(State or Other Jurisdiction of Incorporation or Organization)	(I.R.S. Employer Identification No.)
60 E. 42nd Street, 46th Floor
New York, NY	10165
(Address of Principal Executive Offices)	(Zip Code)

(212) 796-4097

(Registrant’s telephone number, including area code)

___________

(Former name and former address, if changed since last report)

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes [X]  No [  ]

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes [X]  No [  ]

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See definitions of “large accelerated filer”, “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer [  ]	Accelerated filer [  ]
Non-accelerated filer [  ] (Do not check if a smaller reporting company)	Smaller reporting company [X]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act):  Yes [  ]  No [X]

As of November 9, 2015, there were 200,512,159 shares of the issuer’s common stock outstanding.

TABLE OF CONTENTS

PART I - FINANCIAL INFORMATION	3
Item 1. Financial Statements	3
Balance Sheet	4
Statement of Operations	5
Statement of Stockholders’ Equity	6
Statement of Cash Flows	7
Notes to Financial Statements	8
Item 2.  Management’s Discussion & Analysis of Financial Condition and Results of Operations.	14
Item 3. Quantitative and Qualitative Disclosures about Market Risk.	16
Item 4. Controls and Procedures.	16
PART II - OTHER INFORMATION	17
Item 1.  Legal Proceedings	17
Item 1A. Risk Factors.	17
Item 2.  Unregistered Sale of Equity Securities and Use of Proceeds	17
Item 3.  Defaults Upon Senior Securities	17
Item 4.  Mine Safety Disclosure	17
Item 5.  Other Information	17
Item 6.  Exhibits	18
SIGNATURES	19

2

PART I - FINANCIAL INFORMATION

Item 1. Financial Statements

Receivable Acquisition and Management Corp.

Financial Statements

For the Nine Months Ended

September 30, 2015

3

Receivable Acquisition and Management Corp.

Balance Sheet

		September 30, 2015		December 31, 2014
		(unaudited)
ASSETS
Cash	$	110,937	$	49,169
Accounts receivable		329,389		402,639
Prepaid expenses and deposits		99,420		67,892
Total Current Assets		539,746		519,700
Intangible asset - license agreement		220,809		230,109
Fixed asset - engines		19,044		0
Total Assets	$	779,599	$	749,809
LIABILITIES AND STOCKHOLDERS’ EQUITY
Accounts payable and accrued expenses	$	445,430	$	441,524
Due to Licensor		187,000		187,000
Total Liabilities		632,430		628,524
Common stock, $0.001 par value: 325,000,000 shares   authorized; 200,512,159 shares issued and outstanding   at September 30, 2015		200,512		199,489
Additional paid-in capital		306,374		256,237
Retained earnings (deficit)		(359,717)		(334,441)
Total Stockholders’ Equity		147,169		121,285
Total Liabilities and Stockholders’ Equity	$	779,599	$	749,809

See notes to financial statements.

4

Receivable Acquisition and Management Corp.

Statement of Operations

(Unaudited)

		Three Months Ended September 30				Nine Months Ended September 30
		2015		2014		2015		2014
INCOME
Project Management	$	316,444	$	254,946	$	874,581	$	772,773
Other		-		-		-		-
Total Income		316,444		254,946		874,581		772,773
EXPENSES
Consulting fees		261,428		191,682		718,599		625,235
General and Administrative		55,746		27,797		120,614		92,588
Legal and other professional  fees		23,512		16,952		60,645		139,073
Total Expenses		340,687		236,431		899,857		856,896
Net Income (Loss)	$	(24,243)	$	18,515	$	(25,276)	$	(84,123)
Net Income (Loss) per   Common Share	$	(0.00)	$	0.00	$	(0.00)	$	(0.00)
Weighted Average Common   Shares Outstanding		200,430,637		197,488,959		199,964,915		197,289,094

See notes to financial statements.

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Receivable Acquisition and Management Corp.

Statement of Stockholders’ Equity

For the Nine Months Ended September 30, 2015

(Unaudited)

	Common Stock				Additional		Retained		Total
	Number of Shares		Amount		Paid-in Capital		Earnings (Deficit)		Stockholders’ Equity
Balance, December 31, 2014	199,488,959	$	199,489	$	256,237	$	(334,441)	$	121,285
Shares issued	1,023,200		1,023		50,137		-		51,160
Net Income (Loss)	-		-		-		(25,276)		(25,276)
Balance, September 30, 2015	200,512,159	$	200,512	$	306,374	$	(359,717)	$	147,169

See notes to financial statements.

6

Receivable Acquisition and Management Corp.

Statement of Cash Flows

(Unaudited)

	Nine Months Ended September 30
	2015		2014
NET INCOME (LOSS)	$	(25,276)	$	(84,123)
Adjustments to reconcile net income (loss) to net cash provided (used) by operating activities
Shares issued for legal and consulting services		-		31,750
Depreciation and amortization		11,416		9,300
Changes in Assets and Liabilities
Accounts receivable		73,250		(100,429)
Accounts payable and accrued expenses		3,907		(185,568)
Prepaid expenses and deposits		(19,028)		(886)
Total Adjustments		57,044		(245,883)
Net Cash Provided (Used) by Operating Activities		44,268		(329,956)
CASH FLOWS FROM FINANCING ACTIVITIES
Common stock issued/member capital contributions		17,500		100,829
Advances payable		-		12,250
Net Cash Provided (Used) by Financing Activities		17,500		113,079
Net increase (decrease) in cash		61,768		(216,877)
Cash, beginning of period		49,169		347,877
Cash, end of period	$	110,937	$	131,000
Non Cash Investing and Financing Activity
Shares Issued for purchase of engines		21,160		-
Shares Issued for rental space		12,500		-
Advances payable converted to equity		-		30,083

See notes to financial statements.

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Receivable Acquisition and Management Corp.

Notes to Financial Statements

September 30, 2015

(Unaudited)

1. Organization and Nature of Business

Receivable Acquisition and Management Corporation (the “Company” or “RAMCO”), a public reporting entity, was in the business to purchase, manage and collect defaulted consumer receivables. RAMCO ceased investments in distressed consumer credit portfolios in September 2007 and subsequently ran off existing portfolios.

Sustainable Energy LLC (“Sustainable LLC”) is a New York Limited Liability Company formed on July 26, 2010. Sustainable LLC is involved in developing and improving the efficiency of energy infrastructure using a combination of traditional and advanced technologies. On March 29, 2013, Sustainable LLC contributed certain assets and liabilities into a newly formed entity, Sustainable Energy Industries, Inc. (“Sustainable”). At the time, Sustainable LLC had a license agreement with a third party involving manufacturing and licensing, and limited assets, liabilities and operations.

Cornerstone Program Advisors LLC, (“Cornerstone”) is a Delaware limited liability company formed on January 5, 2009. Cornerstone is an energy infrastructure project management company focused on healthcare and higher learning institutions.

As a result of a reverse merger acquisition between the Company, Cornerstone, and Sustainable during 2013, the Company adopted a business plan to build on the business of Cornerstone and Sustainable in energy infrastructure and alternative energy.

2. Significant Accounting Policies

Basis of Presentation and Use of Estimates

The Company prepares its financial statements in conformity with accounting principles generally accepted in the United States of America which requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Some of the more significant estimates required to be made by management include recognition of income for work completed and unbilled to customers, the allowance for doubtful accounts, and the valuation of the License Agreement.  Actual results could differ from those estimates.

The Company believes that funds generated from operations, together with existing cash and cash infusions by major stockholders, will be sufficient to finance its operations for the next twelve months, but are likely to be insufficient to fund its contractual obligations and to fund growth.  The Company expects to seek additional capital to cover any working capital needs and its contractual obligations, and to fund growth initiatives in its identified markets.  However, there can be no assurance that any new debt or equity financing arrangement will be available to the Company when needed on acceptable terms, if at all.  The continued operations of the Company are dependent on its ability to raise funds, collect accounts receivable, and receive revenues.

Unaudited Financial Statements

The accompanying unaudited financial statements have been prepared in accordance with generally accepted accounting principles for financial information and with the instructions to Form 10-Q. They do not include all information and footnotes required by United States generally accepted accounting principles for complete financial statements. The unaudited financial statements should be read in conjunction with those financial statements included in the Company’s Form 10-K for the year ended December 31, 2014.  In the opinion of Management, all adjustments considered necessary for a fair presentation, consisting solely of normal recurring adjustments, have been made. Operating results for the three and nine months ended September 30, 2015 are not necessarily indicative of the results that may be expected for the year ending December 31, 2015.

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Receivable Acquisition and Management Corp.

Notes to Financial Statements

September 30, 2015

(Unaudited)

Cash

The Company continually monitors its positions with, and the credit quality of, the financial institutions it invests with. From time to time, however briefly, the Company maintains balances in operating accounts in excess of federally insured limits.

Accounts Receivable

Receivables are stated at the amount management expects to collect from outstanding balances. Management provides for probable uncollectible amounts through a charge to earnings and a credit to a valuation allowance based on its assessment of the current status of individual accounts. At September 30, 2015, no allowance for doubtful accounts has been provided.

Income Recognition

The Company recognizes income for the sale of services and products when persuasive evidence of an arrangement exists, services have been rendered or delivery has occurred, the fee is fixed or determinable and the collectability of the related income is reasonably assured.

The Company principally derives income from fees for services generated on a project-by-project basis. Prior to the commencement of a project, the Company reaches agreement with the client on rates for services based upon the scope of the project, staffing requirements and the level of client involvement. It is the Company’s policy to obtain written agreements from new clients prior to performing services. In these agreements, the clients acknowledge that they will pay based upon the amount of time spent on the project or an agreed upon fee structure. Income for services rendered is recognized on a time and materials basis or on a fixed-fee or capped-fee basis in accordance with accounting and disclosure requirements for income recognition.

Fees for services that have been performed, but for which the Company has not invoiced the customers are recorded as unbilled receivables.

Income for time and materials contracts are recognized based on the number of hours worked by the Company’s subcontractors at an agreed upon rate per hour, and are recognized in the period in which services are performed. Income for time and materials contracts is billed monthly or in accordance with the specific contractual terms of each project.

Fixed Assets

Fixed assets are being depreciated on the straight line basis over a period of five years.

License Agreement

The cost of the license agreement (see Note 4) is being amortized on a straight-line basis over 20 years.  The license agreement is reflected in the accompanying September 30, 2015 balance sheet net of accumulated amortization of $27,900.

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Receivable Acquisition and Management Corp.

Notes to Financial Statements

September 30, 2015

(Unaudited)

Income Taxes

The Company recognizes the tax benefits of uncertain tax positions only where the position is “more likely than not” to be sustained assuming examination by the tax authorities. Management has analyzed the Company’s tax positions, and has concluded that no liability for unrecognized tax benefits should be recorded related to uncertain tax positions taken on returns filed for open tax years (2011 - 2014).

Basic and Diluted Net Income (Loss) per Share

The Company computes income (loss) per share in accordance with “ASC-260”, “Earnings per Share” which requires presentation of both basic and diluted income (loss) per share on the face of the statement of operations. Basic income (loss) per share is computed by dividing net income available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted income (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive income (loss) per share excludes all potential common shares if their effect is anti-dilutive.

The Company has no potential dilutive instruments and accordingly basic income (loss) and diluted income per share are the same.

Recent Accounting Pronouncements

In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2014-09: “Revenue from Contracts with Customers” (Topic 606) (“ASU 2014-09”). ASU 2014-09 is a comprehensive new revenue recognition model requiring a company to recognize revenue to depict the transfer of goods or services to a customer at an amount reflecting the consideration it expects to receive in exchange for those goods or services. In adopting ASU 2014-09, companies may use either a full retrospective or a modified retrospective approach. ASU 2014-09 is effective for the first interim period within annual reporting periods beginning after December 15, 2017, and early adoption is not permitted. The Company will adopt ASU 2014-09 during the first quarter of fiscal 2018. Management is evaluating the provisions of this statement and has not determined what impact the adoption of ASU 2014-09 will have on the Company's financial position or results of operations.

In August 2014, the FASB issued Accounting Standards Update No. 2014-15: “Presentation of Financial Statements-Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern” (“ASU 2014-15”). In connection with preparing financial statements for each annual and interim reporting period, an entity’s management should evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date that the financial statements are issued (or within one year after the date that the financial statements are available to be issued when applicable). Management’s evaluation should be based on relevant conditions and events that are known and reasonably knowable at the date that the financial statements are issued (or at the date that the financial statements are available to be issued when applicable). Substantial doubt about an entity’s ability to continue as a going concern exists when relevant conditions and events, considered in the aggregate, indicate that it is probable that the entity will be unable to meet its obligations as they become due within one year after the date that the financial statements are issued (or available to be issued). The term probable is used consistently with its use in Topic 450, Contingencies. The amendments in this Update are effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted.

All other accounting standards that have been issued or proposed by the FASB that do not require adoption until a future date are not expected to have a material impact on the financial statements upon adoption.

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Receivable Acquisition and Management Corp.

Notes to Financial Statements

September 30, 2015

(Unaudited)

3. Related Party Transactions

Consulting Fees

Certain stockholders of the Company and entities affiliated with management perform services to customers and were compensated at various rates. Total consulting expenses incurred by these entities amounted to $547,371 and $583,977 for the nine months ended September 30, 2015 and 2014, respectively.

Advances Payable

The Advances Payable cash flows in 2014 resulted from funds earlier advanced to the Company by officers of the Company in order to pay certain bills, and from Company expenses earlier paid by these officers on the Company's behalf for which they would ordinarily be reimbursed, all with no specified terms for repayment by the Company.  All of these amounts were then deemed by the officers as contributions of capital, so the payables were extinguished.

4. License Agreement

On November 15, 2012, Sustainable LLC entered into a renewable 20-year engine technology license agreement (the “Technology Agreement”) with a third party licensor (the “Licensor”) that developed engines capable of converting low grade heat into other forms of energy.  Under the terms of the Technology Agreement, Sustainable LLC obtained certain exclusive license rights in the engines developed by the Licensor which would permit Sustainable LLC to develop, manufacture and integrate such engines into its projects.

The exclusive market rights of the Technology Agreement provide that Sustainable LLC make a cash payment of $200,000 and issue common stock in Sustainable representing a small minority ownership position in the Company (see Note 1), along with periodic quarterly payments of $25,000 commencing six months after the initial $200,000 payment.  These payments reset to $50,000 per quarter after three payments, and are subject to further resets to up to $100,000 depending on engine sales volume.  Under certain circumstances, engine royalty fees and referral fees can increase the quarterly payment from time to time.  In the event of non-payment, Sustainable retains a non-exclusive license subject to royalty fees.

On May 15, 2013, in connection with the Merger (see Note 1), the Company, after acquiring 100% ownership interest in Sustainable, issued 2,435,430 shares to the Licensor which represents a small minority position in the Company as required under the terms of the Technology Agreement.  At the time of issuance, these shares were valued at $48,709 representing the fair value of the RAMCO shares.

In addition, during the fiscal year ended December 31, 2013, the Company made payments of $13,000 that were applied against the required initial $200,000 cash payment as stated under the terms of the Technology Agreement.

In connection with a November 5, 2013, proceeding commenced by the Securities Division of the Arizona Corporation Commission (the “ACC”) the Company learned that the Licensor had been classified as dissolved by the Delaware Division of Corporations after March 1, 2010 for failure to pay franchise taxes to the State of Delaware, and similarly classified by the ACC as of approximately the same time.  Neither the Company nor any of its officers or directors was named in the complaint brought by the ACC.

11

Receivable Acquisition and Management Corp.

Notes to Financial Statements

September 30, 2015

(Unaudited)

In performing due diligence in regard to the status of the Licensor, the Company subsequently also learned that two United States patents that were licensed to the Company under the Agreement have been classified as expired due to the Licensor’s failure to pay maintenance fees thereon.  In conjunction with the Licensor, in April 2015, the Company arranged for the principal United States patent to be reinstated, and it is now again in effect. The Company has confirmed that Licensor is taking steps to have the corporate charters of each corporation reinstated, but may not be successful in such reinstatements, and is in discussions with the Licensor regarding these matters.

To the best of the Company’s knowledge at present, none of these issues presents a near-term hindrance to the Company’s continued focus on establishing and growing its engine technology business.

Pursuant to the Agreement, the Company has obtained previously described rights to all forms of intellectual property covering certain engine technology that is the subject of the Agreement and is not relying on the remaining U.S. patent classified as expired to be reinstated in order to maintain the ability and knowhow to use such technology.  To the Company’s best knowledge at the current time, the international patent rights remain intact.  However, at this time, there can be no assurance that the foregoing matters will not have a material adverse effect on the Company’s operations.

The accompanying September 30, 2015, balance sheet presents the carrying value of the license fee at $220,809, consisting of the $200,000 required payments under the Agreement and $48,709, representing the fair value of shares issues to the Licensor, net of $27,900 in accumulated amortization. In addition, the accompanying balance sheet reflects $187,000 due to the Licensor, representing the remaining liability from the initial $200,000 required payment.  After careful assessment, the Company has concluded that no adjustment to the value of the License Agreement or amounts due thereunder should be made as a consequence of the ACC complaint at the current time, but continues to monitor these proceedings.

The Company periodically performs an analysis of its contractual rights and arrangements and establishes asset value based on that analysis.

5. Concentrations

The Company grants credit in the normal course of business to its customers.  The Company periodically performs credit analysis and monitors the financial condition of its customers to reduce credit risk.

Two customers accounted for 69.1% and 30.9%, respectively, of total project management income during the nine months ended September 30, 2015, and two customers accounted for 63.3% and 36.7%, respectively, during the nine months ended September 30, 2014.

Two customers accounted for 50.1% and 49.9%, respectively, of total accounts receivable at September 30, 2015, and for 65.4% and 34.6%, respectively, at September 30, 2014.

6. Stock Issuance

In April 2015, the Company issued 423,200 shares of common stock valued at $0.05 per share to acquire engines, manufactured under the patents licensed to the Company under the Agreement, together with related specialized equipment for testing and demonstration purposes.

In April 2015, the Company issued 100,000 shares of common stock to an individual investor in return for a capital infusion of $5,000 at $0.05 per share.

12

Receivable Acquisition and Management Corp.

Notes to Financial Statements

September 30, 2015

(Unaudited)

In July 2015, the Company issued a total of 500,000 shares of common stock valued at $0.05 per share to an individual investor in return for a capital infusion of $12,500 and the use of temporary special purpose demonstration space for the Company.

Note 7. Subsequent Events

Management has evaluated subsequent events for disclosure and/or recognition in the financial statements through the date that the financial statements were available to be issued.

13

Item 2.  Management’s Discussion & Analysis of Financial Condition and Results of Operations.

The following management’s discussion and analysis should be read in conjunction with the Company’s historical consolidated financial statements and the related notes thereto included in our audited financial statements for the year ended December 31, 2014, and the notes thereto.  The management’s discussion and analysis contains forward-looking statements that involve risks and uncertainties, such as statements of our plans, objectives, expectations and intentions. Any statements that are not statements of historical fact are forward-looking statements. When used, the words “believe,” “plan,” “intend,” “anticipate,” “target,” “estimate,” “expect” and the like, and/or future tense or conditional constructions (“will,” “may,” “could,” “should,” etc.), or similar expressions, identify certain of these forward-looking statements. These forward-looking statements are subject to risks and uncertainties that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements in this quarterly report. The Company’s actual results and the timing of events could differ materially from those anticipated in these forward-looking statements as a result of several factors. The Company does not undertake any obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this quarterly report.

Overview

On May 15, 2013, Receivable Acquisition & Management Corporation, a Delaware corporation (the “Company”) completed the acquisition of Cornerstone Program Advisors LLC, a Delaware limited liability company (“Cornerstone”) and Sustainable Energy Industries, Inc., a Delaware corporation (“Sustainable”), and the Company assumed the operations of each of these entities (the “Merger”).  Receivable Acquisition & Management Corporation had operated as a business purchasing and collecting upon defaulted consumer receivables and its operations were spun off by the Company.  Cornerstone has been in the business of managing energy infrastructure projects, specializing in the non-profit marketplace.  Sustainable is in the business of developing, marketing, and implementing clean tech technologies.  The Company has refocused on managing energy infrastructure projects and developing applications for a licensed environmentally benign heat engine with particular focus on the geothermal and independent power production markets.

Results of Operations

During the three and nine month periods ended September 30, 2015, the Company had net (losses) of $(24,243) and ($25,276) on revenues of $316,444 and $874,581, respectively, versus net income (losses) of $18,515 and ($84,123) on revenues of $254,946 and $772,773, respectively, in the three and nine month periods ended September 30, 2014.  The results in the third fiscal quarter of 2015 turned to a loss as compared to a profit in the corresponding period last year due, in large part, to increased spending on consulting contractors, and to a lesser degree on increased spending on the testing and development of the Company’s engine technology and related expenses.  

Revenue

In the nine month period ended September 30, 2015, revenues showed a 13% improvement over the corresponding period in 2014.  The revenue increase for the period is a consequence of growing business activity with existing clients.   

Operating Expenses

Total operating expenses for the three and nine month periods ended September 30, 2015 were $340,687 and $899,857, respectively, versus $236,431 and $856,896, respectively, during the three and nine month periods ended September 30, 2014.  The increase in operating expenses in the three month and nine month periods in 2015 against the corresponding periods in 2014 were the result of an increased emphasis on non-contractor third parties to do certain tasks on client projects despite an overall reduction in costs of professional fees.  Over the nine month period in 2015, the Company’s expenses for consulting contractors increased over the corresponding period in 2014 faster than the increase in revenues as new contractors were engaged to meet growing customer demands.

14

Consulting Expenses  

The Company outsources a significant portion of its project management, oversight and advisory activities to a carefully selected group of small firms, individuals and subcontractors with expertise specific to the projects underway.  As of the quarter ended September 30, 2015, the Company was using six such consulting resources. Consulting expenses consistently constitute the bulk of operating costs for the project advisory and management business activities of the Company, and accordingly generally tracks revenue.  

Liquidity and Capital Resources

As of September 30, 2015, the Company had a working capital deficit (that is, total current assets minus total current liabilities) of ($92,684) versus a working capital deficit of ($108,824) as of year ended December 31, 2014.   This change is principally due to an increase in prepaid expenses.  

As of September 30, 2015, the Company had net cash of $110,937 versus $49,169 at December 31, 2014. For the nine months ended September 30, 2015, net cash provided (used) by operating activities was $44,268 versus ($329,956) for the nine months ended September 30, 2014.  The change in net cash used by operating activities for the nine month period in 2014 to net cash provided by operating activities in the recent nine month period resulted largely from improved operating results and an improved current asset position.

For the nine month periods ended September 30, 2015 and September 30, 2014, no cash was expended by investing activities.

For the nine months ended September 30, 2015, there was $17,500 net cash provided by financing activities versus $113,079 net cash provided by financing activities during the nine months ended September 30, 2014.  The earlier period result was due primarily to a cash infusion by an investor, and the recent period result was principally due to cash infusions received from investors.

The Company believes that funds generated from operations, together with existing cash and cash infusions by major stockholders, will be sufficient to finance its operations for the next twelve months, but are likely to be insufficient to fund its contractual obligation discussed below and to fund growth.  The Company has begun exploring options and alternatives for raising additional capital to cover any working capital needs and its contractual obligation, and to fund growth initiatives in its identified markets.  However, there can be no assurance that any new debt or equity financing arrangement will be available to the Company when needed on acceptable terms, if at all.  The continued operations of the Company are dependent on its ability to collect its receivables and increase revenues.

Income Taxes

The Company did not record any income tax provision for the three or nine month periods ended September 30, 2015, and does not expect any material income tax liability for the period.  

Contractual Obligation

As previously disclosed and described in Note 4 to the financial statements, the Company has entered into a renewable 20-year Technology Agreement with a third party licensor (the “Licensor”) that developed engines capable of converting low grade heat into other forms of energy.  Under the terms of the Technology Agreement, the Company obtained certain exclusive license rights in the engines developed by the Licensor which will permit the Company to develop, manufacture and integrate such engines into its projects.  An upfront payment of $200,000 and escalating volume-related quarterly payments are contractually required in order to maintain certain exclusive markets.  The payments, taken as whole, are expected to obligate the Company to amounts of $250,000 to $400,000 per year depending upon the growth in revenue from this source.  If the expected revenues do not materialize, the Company may elect not to pay these sums, and in the event of non-payment, the Company retains a non-exclusive license subject to royalty fees.  

15

As previously disclosed by the Company, and as discussed in Note 4 to the Financial Statements herein, the Company learned that the Licensor was administratively dissolved for failure to pay franchise taxes, and that the Licensor’s two U.S. patents in connection with the License Agreement expired.  In conjunction with the Licensor, in April 2015, the Company arranged for the principal United States patent to be reinstated, and it is now again in effect.  The Licensor is taking steps to cure the remaining defects but may not be successful.  At this time, the Company has not changed its classification of its contractual obligations under the License Agreement as a result of the aforementioned development.

Critical Accounting Policy & Estimates

Our Management’s Discussion and Analysis of Financial Condition and Results of Operations section discusses our financial statements, which have been prepared in accordance with accounting principles generally accepted in the United States of America. The preparation of these financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. On an ongoing basis, management evaluates its estimates and judgments, including those related to revenue recognition, accrued expenses, financing operations, and contingencies and litigation. Management bases its estimates and judgments on historical experience and on various other factors that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions and conditions. The most significant accounting estimates inherent in the preparation of our financial statements include estimates as to the appropriate carrying value of certain assets and liabilities which are not readily apparent from other sources. These accounting policies are described at relevant sections in this discussion and analysis and in the condensed consolidated financial statements included in this quarterly report.

Off-Balance Sheet Arrangements

The Company has no off-balance sheet arrangements.

Item 3. Quantitative and Qualitative Disclosures about Market Risk.

The Issuer is not required to provide the information called for in this item due to its status as a Smaller Reporting Company.

Item 4. Controls and Procedures.

Evaluation of disclosure controls and procedures

The term “disclosure controls and procedures” is defined in Rules 13(a)-15e and 15(d) - 15(e) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The Company’s principal executive officer and principal financial officer has evaluated the effectiveness of our disclosure controls and procedures as of September 30, 2015. He has concluded that, as of September 30, 2015, our disclosures, controls and procedures were effective to ensure that:

(1) Information required to be disclosed by the Company in reports that it files or submits under the act is recorded, processed, summarized and reported, within the time periods specified in the Commissions’ rules and forms; and

(2) Controls and procedures are designed by the Company to ensure that information required to be disclosed by the Company in the reports it files or submits under the Exchange Act is accumulated and communicated to the issuer’s management including the principal executive and principal financial officers or persons performing similar functions, as appropriate to allow timely decisions regarding financial disclosure.

16

This term refers to the controls and procedures of a Company that are designed to ensure that information required to be disclosed by a Company in the reports that it files under the Exchange Act is recorded, processed, summarized and reported within the required time periods. Management continues to take steps to improve its controls and procedures, and expects, further, that the growing scale of the business will enable the Company to obtain additional resources to assist in that effort.

Changes in Internal Control over Financial Reporting

There were no changes in the Company’s internal control over financial reporting or in any other factors that could significantly affect these controls during the quarter ended September 30, 2015, that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

PART II - OTHER INFORMATION

Item 1.  Legal Proceedings

The Company is not a party to any material pending legal proceedings or a proceeding being contemplated by a governmental authority nor is any of the Company’s property the subject of any pending legal proceedings or a proceeding being contemplated by a governmental authority except as set forth in our Annual Report on Form 10-K for December 31, 2014 from which there have been no material changes.

Item 1A. Risk Factors.

The Issuer is not required to provide the information called for in this item due to its status as a Smaller Reporting Company.

Item 2.  Unregistered Sale of Equity Securities and Use of Proceeds

In July 2015, the Company issued 500,000 shares of common stock at a per share price of $0.05 to an individual investor in return for a capital infusion of $12,500 and the use of temporary special purpose demonstration space for the Company.  The Company claims an exemption from registration pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended.  No commissions were paid and no underwriter or placement agent was involved in this transaction. The proceeds of this transaction were used for the Company’s working capital and general corporate purposes.

Item 3.  Defaults Upon Senior Securities

None.

Item 4.  Mine Safety Disclosure

Not Applicable.

Item 5.  Other Information

None.

17

Item 6.  Exhibits

Exhibit Number	Exhibit Title
31.1	Certification of Principal Executive Officer and Principal Financial Officer, pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32.1	Certification of Principal Executive Officer and Principal Financial Officer, pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
101.INS *	XBRL Instance Document
101.SCH *	XBRL Taxonomy Schema
101.CAL *	XBRL Taxonomy Calculation Linkbase
101.DEF *	XBRL Taxonomy Definition Linkbase
101.LAB *	XBRL Taxonomy Label Linkbase
101.PRE *	XBRL Taxonomy Presentation Linkbase

In accordance with SEC Release 33-8238, Exhibits 32.1 and 32.2 are being furnished and not filed.

* Furnished herewith. XBRL (Extensible Business Reporting Language) information is furnished and not filed or a part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under these sections.

18

SIGNATURES

In accordance with the requirements of the Exchange Act, the Company has caused this report to be signed by the undersigned, thereunto duly authorized.

		RECEIVABLE ACQUISITION & MANAGEMENT CORPORATION
Date:  November 10, 2015	By:	/s/ Thomas Telegades
	Name:	Thomas Telegades
	Title:	Chief Executive Officer
		Interim Chief Financial Officer
		(Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer)

19

EX-31.1

EXHIBIT 31.1

CERTIFICATION OF THE PRINCIPAL EXECUTIVE OFFICER

AND PRINCIPAL FINANCIAL OFFICER

PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Thomas Telegades, the Chief Executive Officer and Interim Chief Financial Officer of Receivable Acquisition & Management Corporation, certify that:

1.

I have reviewed this quarterly report on Form 10-Q of Receivable Acquisition & Management Corporation for the quarter ended September 30, 2015;

2.

Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.

Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.

I am responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a)

Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)

Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)

Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d)

Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.

I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a)

Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our  conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(b)

All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and  report financial information; and

(c)

Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: November 10, 2015	By:  /s/ Thomas Telegades
	Name:  Thomas Telegades
	Title:  Chief Executive Officer
	Interim Chief Financial Officer
	(Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer)

EX-32.1

EXHIBIT 32.1

CERTIFICATION OF THE PRINCIPAL EXECUTIVE OFFICER

AND PRINCIPAL FINANCIAL OFFICER

PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the quarterly report of Receivable Acquisition & Management Corporation, (the “Company”) on Form 10Q for the quarter ended September 30, 2015, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Thomas Telegades, the Chief Executive Officer and Interim Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to my knowledge:

(a)

The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

(b)

The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date: November 10, 2015
	By:  /s/ Thomas Telegades
	Name:  Thomas Telegades
	Title:  Chief Executive Officer
	Interim Chief Financial Officer
	(Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer)

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License Agreement Disclosure (Details) - USD ($)		12 Months Ended
	May. 15, 2013	Dec. 31, 2013	Sep. 30, 2015	Dec. 31, 2014
Value of license agreement			$ 220,809	$ 230,109
Accumulated amortization of license agreement			27,900
Engine technology license agreement
Common stock issued for acquisition	2,435,430
Value of shares	$ 48,709
Payments made		$ 13,000
Value of license agreement			220,809
Due to the Licensor			$ 187,000

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Related Party Transactions

9 Months Ended

Sep. 30, 2015

Notes

Related Party Transactions

3. Related Party Transactions

Consulting Fees

Certain stockholders of the Company and entities affiliated with management perform services to customers and were compensated at various rates. Total consulting expenses incurred by these entities amounted to $547,371 and $583,977 for the nine months ended September 30, 2015 and 2014, respectively.

Advances Payable

The Advances Payable cash flows in 2014 resulted from funds earlier advanced to the Company by officers of the Company in order to pay certain bills, and from Company expenses earlier paid by these officers on the Company's behalf for which they would ordinarily be reimbursed, all with no specified terms for repayment by the Company.  All of these amounts were then deemed by the officers as contributions of capital, so the payables were extinguished.

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Significant Accounting Policies

9 Months Ended

Sep. 30, 2015

Notes

Significant Accounting Policies

2. Significant Accounting Policies

Basis of Presentation and Use of Estimates

The Company prepares its financial statements in conformity with accounting principles generally accepted in the United States of America which requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Some of the more significant estimates required to be made by management include recognition of income for work completed and unbilled to customers, the allowance for doubtful accounts, and the valuation of the License Agreement.  Actual results could differ from those estimates.

The Company believes that funds generated from operations, together with existing cash and cash infusions by major stockholders, will be sufficient to finance its operations for the next twelve months, but are likely to be insufficient to fund its contractual obligations and to fund growth.  The Company expects to seek additional capital to cover any working capital needs and its contractual obligations, and to fund growth initiatives in its identified markets.  However, there can be no assurance that any new debt or equity financing arrangement will be available to the Company when needed on acceptable terms, if at all.  The continued operations of the Company are dependent on its ability to raise funds, collect accounts receivable, and receive revenues.

Unaudited Financial Statements

The accompanying unaudited financial statements have been prepared in accordance with generally accepted accounting principles for financial information and with the instructions to Form 10-Q. They do not include all information and footnotes required by United States generally accepted accounting principles for complete financial statements. The unaudited financial statements should be read in conjunction with those financial statements included in the Company’s Form 10-K for the year ended December 31, 2014.  In the opinion of Management, all adjustments considered necessary for a fair presentation, consisting solely of normal recurring adjustments, have been made. Operating results for the three and nine months ended September 30, 2015 are not necessarily indicative of the results that may be expected for the year ending December 31, 2015.

Cash

The Company continually monitors its positions with, and the credit quality of, the financial institutions it invests with. From time to time, however briefly, the Company maintains balances in operating accounts in excess of federally insured limits.

Accounts Receivable

Receivables are stated at the amount management expects to collect from outstanding balances. Management provides for probable uncollectible amounts through a charge to earnings and a credit to a valuation allowance based on its assessment of the current status of individual accounts. At September 30, 2015, no allowance for doubtful accounts has been provided.

Income Recognition

The Company recognizes income for the sale of services and products when persuasive evidence of an arrangement exists, services have been rendered or delivery has occurred, the fee is fixed or determinable and the collectability of the related income is reasonably assured.

The Company principally derives income from fees for services generated on a project-by-project basis. Prior to the commencement of a project, the Company reaches agreement with the client on rates for services based upon the scope of the project, staffing requirements and the level of client involvement. It is the Company’s policy to obtain written agreements from new clients prior to performing services. In these agreements, the clients acknowledge that they will pay based upon the amount of time spent on the project or an agreed upon fee structure. Income for services rendered is recognized on a time and materials basis or on a fixed-fee or capped-fee basis in accordance with accounting and disclosure requirements for income recognition.

Fees for services that have been performed, but for which the Company has not invoiced the customers are recorded as unbilled receivables.

Income for time and materials contracts are recognized based on the number of hours worked by the Company’s subcontractors at an agreed upon rate per hour, and are recognized in the period in which services are performed. Income for time and materials contracts is billed monthly or in accordance with the specific contractual terms of each project.

Fixed Assets

Fixed assets are being depreciated on the straight line basis over a period of five years.

License Agreement

The cost of the license agreement (see Note 4) is being amortized on a straight-line basis over 20 years.  The license agreement is reflected in the accompanying September 30, 2015 balance sheet net of accumulated amortization of $27,900.

Income Taxes

The Company recognizes the tax benefits of uncertain tax positions only where the position is “more likely than not” to be sustained assuming examination by the tax authorities. Management has analyzed the Company’s tax positions, and has concluded that no liability for unrecognized tax benefits should be recorded related to uncertain tax positions taken on returns filed for open tax years (2011 - 2014).

Basic and Diluted Net Income (Loss) per Share

The Company computes income (loss) per share in accordance with “ASC-260”, “Earnings per Share” which requires presentation of both basic and diluted income (loss) per share on the face of the statement of operations. Basic income (loss) per share is computed by dividing net income available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted income (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive income (loss) per share excludes all potential common shares if their effect is anti-dilutive.

The Company has no potential dilutive instruments and accordingly basic income (loss) and diluted income per share are the same.

Recent Accounting Pronouncements

In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2014-09: “Revenue from Contracts with Customers” (Topic 606) (“ASU 2014-09”). ASU 2014-09 is a comprehensive new revenue recognition model requiring a company to recognize revenue to depict the transfer of goods or services to a customer at an amount reflecting the consideration it expects to receive in exchange for those goods or services. In adopting ASU 2014-09, companies may use either a full retrospective or a modified retrospective approach. ASU 2014-09 is effective for the first interim period within annual reporting periods beginning after December 15, 2017, and early adoption is not permitted. The Company will adopt ASU 2014-09 during the first quarter of fiscal 2018. Management is evaluating the provisions of this statement and has not determined what impact the adoption of ASU 2014-09 will have on the Company's financial position or results of operations.

In August 2014, the FASB issued Accounting Standards Update No. 2014-15: “Presentation of Financial Statements-Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern” (“ASU 2014-15”). In connection with preparing financial statements for each annual and interim reporting period, an entity’s management should evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date that the financial statements are issued (or within one year after the date that the financial statements are available to be issued when applicable).

Management’s evaluation should be based on relevant conditions and events that are known and reasonably knowable at the date that the financial statements are issued (or at the date that the financial statements are available to be issued when applicable). Substantial doubt about an entity’s ability to continue as a going concern exists when relevant conditions and events, considered in the aggregate, indicate that it is probable that the entity will be unable to meet its obligations as they become due within one year after the date that the financial statements are issued (or available to be issued). The term probable is used consistently with its use in Topic 450, Contingencies. The amendments in this Update are effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted.

All other accounting standards that have been issued or proposed by the FASB that do not require adoption until a future date are not expected to have a material impact on the financial statements upon adoption.

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BALANCE SHEET - USD ($)	Sep. 30, 2015	Dec. 31, 2014
CURRENT ASSETS
Cash	$ 110,937	$ 49,169
Accounts receivable	329,389	402,639
Prepaid expenses and deposits	99,420	67,892
Total current assets	539,746	519,700
Intangible asset - license agreement	220,809	230,109
Fixed asset - engines	19,044
TOTAL ASSETS	779,599	749,809
CURRENT LIABILITIES
Accounts payable and accrued expenses	445,430	441,524
Due to Licensor	187,000	187,000
Total current liabilities	632,430	628,524
TOTAL LIABILITIES	632,430	628,524
STOCKHOLDERS' EQUITY
Common stock value	200,512	199,489
Additional paid-in capital	306,374	256,237
Retained earnings (deficit) and adjustments	(359,717)	(334,441)
Total stockholders' equity	147,169	121,285
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 779,599	$ 749,809

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STATEMENT OF CASH FLOWS - USD ($)	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
NET INCOME (LOSS)	$ (25,276)	$ (84,123)
Adjustments to reconcile net income to net cash provided by operating activities:
Shares issued for services		31,750
Depreciation and amortization	11,416	9,300
Changes in assets and liabilities:
Accounts receivable	73,250	(100,429)
Accounts payable and accrued expenses	3,907	(185,568)
Prepaid expenses	(19,028)	(886)
Total adjustments	57,044	(245,883)
Net cash provided (used) by operating activities	44,268	(329,956)
CASH FLOWS FROM FINANCING ACTIVITIES
Common stock issued	17,500	100,829
Advances payable		12,250
Net cash provided (used) by financing activities	17,500	113,079
NET INCREASE (DECREASE) IN CASH	61,768	(216,877)
CASH, BEGINNING OF PERIOD	49,169	347,877
CASH, END OF PERIOD	110,937	131,000
NON CASH INVESTING ACTIVITY
Shares issued for purchase of engines	21,160
Shares issued for rental space	$ 12,500
Advances payable converted to equity		$ 30,083

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Significant Accounting Policies: Recent Accounting Pronouncements (Policies)

9 Months Ended

Sep. 30, 2015

Policies

Recent Accounting Pronouncements

Recent Accounting Pronouncements

In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2014-09: “Revenue from Contracts with Customers” (Topic 606) (“ASU 2014-09”). ASU 2014-09 is a comprehensive new revenue recognition model requiring a company to recognize revenue to depict the transfer of goods or services to a customer at an amount reflecting the consideration it expects to receive in exchange for those goods or services. In adopting ASU 2014-09, companies may use either a full retrospective or a modified retrospective approach. ASU 2014-09 is effective for the first interim period within annual reporting periods beginning after December 15, 2017, and early adoption is not permitted. The Company will adopt ASU 2014-09 during the first quarter of fiscal 2018. Management is evaluating the provisions of this statement and has not determined what impact the adoption of ASU 2014-09 will have on the Company's financial position or results of operations.

In August 2014, the FASB issued Accounting Standards Update No. 2014-15: “Presentation of Financial Statements-Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern” (“ASU 2014-15”). In connection with preparing financial statements for each annual and interim reporting period, an entity’s management should evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date that the financial statements are issued (or within one year after the date that the financial statements are available to be issued when applicable).

Management’s evaluation should be based on relevant conditions and events that are known and reasonably knowable at the date that the financial statements are issued (or at the date that the financial statements are available to be issued when applicable). Substantial doubt about an entity’s ability to continue as a going concern exists when relevant conditions and events, considered in the aggregate, indicate that it is probable that the entity will be unable to meet its obligations as they become due within one year after the date that the financial statements are issued (or available to be issued). The term probable is used consistently with its use in Topic 450, Contingencies. The amendments in this Update are effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted.

All other accounting standards that have been issued or proposed by the FASB that do not require adoption until a future date are not expected to have a material impact on the financial statements upon adoption.

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Related Party Transactions (Details) - USD ($)	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Details
Consulting expenses	$ 547,371	$ 583,977

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Organization and Nature of Business

9 Months Ended

Sep. 30, 2015

Notes

Organization and Nature of Business

1. Organization and Nature of Business

Receivable Acquisition and Management Corporation (the “Company” or “RAMCO”), a public reporting entity, was in the business to purchase, manage and collect defaulted consumer receivables. RAMCO ceased investments in distressed consumer credit portfolios in September 2007 and subsequently ran off existing portfolios.

Sustainable Energy LLC (“Sustainable LLC”) is a New York Limited Liability Company formed on July 26, 2010. Sustainable LLC is involved in developing and improving the efficiency of energy infrastructure using a combination of traditional and advanced technologies. On March 29, 2013, Sustainable LLC contributed certain assets and liabilities into a newly formed entity, Sustainable Energy Industries, Inc. (“Sustainable”). At the time, Sustainable LLC had a license agreement with a third party involving manufacturing and licensing, and limited assets, liabilities and operations.

Cornerstone Program Advisors LLC, (“Cornerstone”) is a Delaware limited liability company formed on January 5, 2009. Cornerstone is an energy infrastructure project management company focused on healthcare and higher learning institutions.

As a result of a reverse merger acquisition between the Company, Cornerstone, and Sustainable during 2013, the Company adopted a business plan to build on the business of Cornerstone and Sustainable in energy infrastructure and alternative energy.

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Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2015	Dec. 31, 2014
Balance Sheet
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	325,000,000	325,000,000
Common stock, shares issued	200,512,159	199,488,959
Common stock, shares outstanding	200,512,159	199,488,959

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Significant Accounting Policies: Income Recognition Policy (Policies)

9 Months Ended

Sep. 30, 2015

Policies

Income Recognition Policy

Income Recognition

The Company recognizes income for the sale of services and products when persuasive evidence of an arrangement exists, services have been rendered or delivery has occurred, the fee is fixed or determinable and the collectability of the related income is reasonably assured.

The Company principally derives income from fees for services generated on a project-by-project basis. Prior to the commencement of a project, the Company reaches agreement with the client on rates for services based upon the scope of the project, staffing requirements and the level of client involvement. It is the Company’s policy to obtain written agreements from new clients prior to performing services. In these agreements, the clients acknowledge that they will pay based upon the amount of time spent on the project or an agreed upon fee structure. Income for services rendered is recognized on a time and materials basis or on a fixed-fee or capped-fee basis in accordance with accounting and disclosure requirements for income recognition.

Fees for services that have been performed, but for which the Company has not invoiced the customers are recorded as unbilled receivables.

Income for time and materials contracts are recognized based on the number of hours worked by the Company’s subcontractors at an agreed upon rate per hour, and are recognized in the period in which services are performed. Income for time and materials contracts is billed monthly or in accordance with the specific contractual terms of each project.

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Document and Entity Information	9 Months Ended
	Sep. 30, 2015 shares
Document and Entity Information
Entity Registrant Name	RECEIVABLE ACQUISITION & MANAGEMENT CORP
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Amendment Flag	false
Entity Central Index Key	0000733337
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding	200,512,159
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q3
Trading Symbol	rcva

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Significant Accounting Policies: Fixed Assets Policy (Policies)

9 Months Ended

Sep. 30, 2015

Policies

Fixed Assets Policy

Fixed Assets

Fixed assets are being depreciated on the straight line basis over a period of five years.

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STATEMENT OF OPERATIONS - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
INCOME
Project management	$ 316,444	$ 254,946	$ 874,581	$ 772,773
Total income	316,444	254,946	874,581	772,773
EXPENSES
Consulting fees	261,428	191,682	718,599	625,235
General and administrative	55,746	27,797	120,614	92,588
Legal and other professional fees	23,512	16,952	60,645	139,073
Total expenses	340,687	236,431	899,857	856,896
NET INCOME (LOSS)	$ (24,243)	$ 18,515	$ (25,276)	$ (84,123)
NET INCOME (LOSS) PER COMMON SHARE	$ 0.00	$ 0.00	$ 0.00	$ 0.00
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING	200,430,637	197,488,959	199,964,915	197,289,094

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Stock Issuance Disclosure

9 Months Ended

Sep. 30, 2015

Notes

Stock Issuance Disclosure

6. Stock Issuance

In April 2015, the Company issued 423,200 shares of common stock valued at $0.05 per share to acquire engines, manufactured under the patents licensed to the Company under the Agreement, together with related specialized equipment for testing and demonstration purposes.

In April 2015, the Company issued 100,000 shares of common stock to an individual investor in return for a capital infusion of $5,000 at $0.05 per share.

In July 2015, the Company issued a total of 500,000 shares of common stock valued at $0.05 per share to an individual investor in return for a capital infusion of $12,500 and the use of temporary special purpose demonstration space for the Company.

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Concentrations Disclosure

9 Months Ended

Sep. 30, 2015

Notes

Concentrations Disclosure

5. Concentrations

The Company grants credit in the normal course of business to its customers.  The Company periodically performs credit analysis and monitors the financial condition of its customers to reduce credit risk.

Two customers accounted for 69.1% and 30.9%, respectively, of total project management income during the nine months ended September 30, 2015, and two customers accounted for 63.3% and 36.7%, respectively, during the nine months ended September 30, 2014.

Two customers accounted for 50.1% and 49.9%, respectively, of total accounts receivable at September 30, 2015, and for 65.4% and 34.6%, respectively, at September 30, 2014.

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Significant Accounting Policies: License Agreement Policy (Details)	Sep. 30, 2015 USD ($)
Details
Accumulated amortization of license agreement	$ 27,900

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Significant Accounting Policies: License Agreement Policy (Policies)

9 Months Ended

Sep. 30, 2015

Policies

License Agreement Policy

License Agreement

The cost of the license agreement (see Note 4) is being amortized on a straight-line basis over 20 years.  The license agreement is reflected in the accompanying September 30, 2015 balance sheet net of accumulated amortization of $27,900.

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Significant Accounting Policies: Cash Policy (Policies)

9 Months Ended

Sep. 30, 2015

Policies

Cash Policy

Cash

The Company continually monitors its positions with, and the credit quality of, the financial institutions it invests with. From time to time, however briefly, the Company maintains balances in operating accounts in excess of federally insured limits.

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Subsequent Events

9 Months Ended

Sep. 30, 2015

Notes

Subsequent Events

Note 7. Subsequent Events

Management has evaluated subsequent events for disclosure and/or recognition in the financial statements through the date that the financial statements were available to be issued.

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Significant Accounting Policies: Basis of Presentation and Use of Estimates (Policies)

9 Months Ended

Sep. 30, 2015

Policies

Basis of Presentation and Use of Estimates

Basis of Presentation and Use of Estimates

The Company prepares its financial statements in conformity with accounting principles generally accepted in the United States of America which requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Some of the more significant estimates required to be made by management include recognition of income for work completed and unbilled to customers, the allowance for doubtful accounts, and the valuation of the License Agreement.  Actual results could differ from those estimates.

The Company believes that funds generated from operations, together with existing cash and cash infusions by major stockholders, will be sufficient to finance its operations for the next twelve months, but are likely to be insufficient to fund its contractual obligations and to fund growth.  The Company expects to seek additional capital to cover any working capital needs and its contractual obligations, and to fund growth initiatives in its identified markets.  However, there can be no assurance that any new debt or equity financing arrangement will be available to the Company when needed on acceptable terms, if at all.  The continued operations of the Company are dependent on its ability to raise funds, collect accounts receivable, and receive revenues.

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Significant Accounting Policies: Accounts Receivable Policy (Policies)

9 Months Ended

Sep. 30, 2015

Policies

Accounts Receivable Policy

Accounts Receivable

Receivables are stated at the amount management expects to collect from outstanding balances. Management provides for probable uncollectible amounts through a charge to earnings and a credit to a valuation allowance based on its assessment of the current status of individual accounts. At September 30, 2015, no allowance for doubtful accounts has been provided.

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Significant Accounting Policies: Basic and Diluted Net Income (loss) Per Share Policy (Policies)

9 Months Ended

Sep. 30, 2015

Policies

Basic and Diluted Net Income (loss) Per Share Policy

Basic and Diluted Net Income (Loss) per Share

The Company computes income (loss) per share in accordance with “ASC-260”, “Earnings per Share” which requires presentation of both basic and diluted income (loss) per share on the face of the statement of operations. Basic income (loss) per share is computed by dividing net income available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted income (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive income (loss) per share excludes all potential common shares if their effect is anti-dilutive.

The Company has no potential dilutive instruments and accordingly basic income (loss) and diluted income per share are the same.

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Concentrations Disclosure (Details)	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Details
Volumn of income generated with particular customer	Two customers accounted for 69.1% and 30.9%	two customers accounted for 63.3% and 36.7%
Volumn of accounts receivable with particular customer	Two customers accounted for 50.1% and 49.9%	65.4% and 34.6%

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STATEMENT OF STOCKHOLDERS' EQUITY - 9 months ended Sep. 30, 2015 - USD ($)	Common Stock	Additional Paid-in Capital	Retained Earnings (Deficit)	Total Stockholders' Equity
Beginning Balance, shares at Dec. 31, 2014	199,488,959
Beginning Balance, amount at Dec. 31, 2014	$ 199,489	$ 256,237	$ (334,441)	$ 121,285
Shares issued, number of shares	1,023,200
Shares issued, value	$ 1,023	50,137		51,160
Net income (loss) for the period			(25,276)	(25,276)
Ending Balance, shares at Sep. 30, 2015	200,512,159
Ending Balance, amount at Sep. 30, 2015	$ 200,512	$ 306,374	$ (359,717)	$ 147,169

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License Agreement Disclosure

9 Months Ended

Sep. 30, 2015

Notes

License Agreement Disclosure

4. License Agreement

On November 15, 2012, Sustainable LLC entered into a renewable 20-year engine technology license agreement (the “Technology Agreement”) with a third party licensor (the “Licensor”) that developed engines capable of converting low grade heat into other forms of energy.  Under the terms of the Technology Agreement, Sustainable LLC obtained certain exclusive license rights in the engines developed by the Licensor which would permit Sustainable LLC to develop, manufacture and integrate such engines into its projects.

The exclusive market rights of the Technology Agreement provide that Sustainable LLC make a cash payment of $200,000 and issue common stock in Sustainable representing a small minority ownership position in the Company (see Note 1), along with periodic quarterly payments of $25,000 commencing six months after the initial $200,000 payment.  These payments reset to $50,000 per quarter after three payments, and are subject to further resets to up to $100,000 depending on engine sales volume.  Under certain circumstances, engine royalty fees and referral fees can increase the quarterly payment from time to time.  In the event of non-payment, Sustainable retains a non-exclusive license subject to royalty fees.

On May 15, 2013, in connection with the Merger (see Note 1), the Company, after acquiring 100% ownership interest in Sustainable, issued 2,435,430 shares to the Licensor which represents a small minority position in the Company as required under the terms of the Technology Agreement.  At the time of issuance, these shares were valued at $48,709 representing the fair value of the RAMCO shares.

In addition, during the fiscal year ended December 31, 2013, the Company made payments of $13,000 that were applied against the required initial $200,000 cash payment as stated under the terms of the Technology Agreement.

In connection with a November 5, 2013, proceeding commenced by the Securities Division of the Arizona Corporation Commission (the “ACC”) the Company learned that the Licensor had been classified as dissolved by the Delaware Division of Corporations after March 1, 2010 for failure to pay franchise taxes to the State of Delaware, and similarly classified by the ACC as of approximately the same time.  Neither the Company nor any of its officers or directors was named in the complaint brought by the ACC.

In performing due diligence in regard to the status of the Licensor, the Company subsequently also learned that two United States patents that were licensed to the Company under the Agreement have been classified as expired due to the Licensor’s failure to pay maintenance fees thereon.  In conjunction with the Licensor, in April 2015, the Company arranged for the principal United States patent to be reinstated, and it is now again in effect. The Company has confirmed that Licensor is taking steps to have the corporate charters of each corporation reinstated, but may not be successful in such reinstatements, and is in discussions with the Licensor regarding these matters.

To the best of the Company’s knowledge at present, none of these issues presents a near-term hindrance to the Company’s continued focus on establishing and growing its engine technology business.

Pursuant to the Agreement, the Company has obtained previously described rights to all forms of intellectual property covering certain engine technology that is the subject of the Agreement and is not relying on the remaining U.S. patent classified as expired to be reinstated in order to maintain the ability and knowhow to use such technology.  To the Company’s best knowledge at the current time, the international patent rights remain intact.  However, at this time, there can be no assurance that the foregoing matters will not have a material adverse effect on the Company’s operations.

The accompanying September 30, 2015, balance sheet presents the carrying value of the license fee at $220,809, consisting of the $200,000 required payments under the Agreement and $48,709, representing the fair value of shares issues to the Licensor, net of $27,900 in accumulated amortization. In addition, the accompanying balance sheet reflects $187,000 due to the Licensor, representing the remaining liability from the initial $200,000 required payment.  After careful assessment, the Company has concluded that no adjustment to the value of the License Agreement or amounts due thereunder should be made as a consequence of the ACC complaint at the current time, but continues to monitor these proceedings.

The Company periodically performs an analysis of its contractual rights and arrangements and establishes asset value based on that analysis.

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Stock Issuance Disclosure (Details)	9 Months Ended
	Sep. 30, 2015 USD ($) $ / shares shares
Acquisition of assets
Shares of common stock issued	423,200
Value or price per stock issued | $ / shares	$ 0.05
Sold for cash
Shares of common stock issued	100,000
Value or price per stock issued | $ / shares	$ 0.05
Value or proceeds from issuance of stock | $	$ 5,000
Sold for cash and special purpose
Shares of common stock issued	500,000
Value or price per stock issued | $ / shares	$ 0.05
Value or proceeds from issuance of stock | $	$ 12,500

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Significant Accounting Policies: Income Taxes Policy (Policies)

9 Months Ended

Sep. 30, 2015

Policies

Income Taxes Policy

Income Taxes

The Company recognizes the tax benefits of uncertain tax positions only where the position is “more likely than not” to be sustained assuming examination by the tax authorities. Management has analyzed the Company’s tax positions, and has concluded that no liability for unrecognized tax benefits should be recorded related to uncertain tax positions taken on returns filed for open tax years (2011 - 2014).